19.4X C. Chester keeps a cash book with bank columns and discount columns only. All petty cash paid out is entered in a petty cash book. All payments above $50 are by cheque, below that figure by cash. This is the information for August 2007. 2007 Aug 1 Bank balance Petty cash balance 2,745 Aug 2 Reimbursement to petty cashier by cheque which is cashed, 29 restoring cash float 271 Aug 3 Petrol bought Aug 5 Bank charges Aug 6 Cheques received duly banked: 19 77 T. Grant (after cash discount $27) C. Riley (after cash discount $20) 513 380 Aug 9 Postage Aug 11 Motor repairs Aug 13 Motor spares Aug 13 Paid the following: 48 247 33 F. Gordon (after cash discount $30) P Clarke (after cash discount $16) 1,170 624 Aug 15 Envelopes bought Aug 18 Drew cheque for wages Aug 21 Received cheque from J. Franks to settle a debt of $2,947 Aug 22 Petrol bought Aug 24 Postage Aug 26 Copying paper bought Aug 27 Paid V. Thomas to settle his account Aug 28 Cleaning materials Aug 29 Dog licence for guard dog Aug 30 Paid rent 28 549 2,820 27 40 16 39 21 15 390 You are required to: (a) write up and balance the cash book; cash book, balancing down at the end of the month. (b) write Analysis columns to be for: motor expenses; postage and stationery; general expenses; ledger accounts. The petty cash reimbursement takes place on 1 September. up the petty
19.4X C. Chester keeps a cash book with bank columns and discount columns only. All petty cash paid out is entered in a petty cash book. All payments above $50 are by cheque, below that figure by cash. This is the information for August 2007. 2007 Aug 1 Bank balance Petty cash balance 2,745 Aug 2 Reimbursement to petty cashier by cheque which is cashed, 29 restoring cash float 271 Aug 3 Petrol bought Aug 5 Bank charges Aug 6 Cheques received duly banked: 19 77 T. Grant (after cash discount $27) C. Riley (after cash discount $20) 513 380 Aug 9 Postage Aug 11 Motor repairs Aug 13 Motor spares Aug 13 Paid the following: 48 247 33 F. Gordon (after cash discount $30) P Clarke (after cash discount $16) 1,170 624 Aug 15 Envelopes bought Aug 18 Drew cheque for wages Aug 21 Received cheque from J. Franks to settle a debt of $2,947 Aug 22 Petrol bought Aug 24 Postage Aug 26 Copying paper bought Aug 27 Paid V. Thomas to settle his account Aug 28 Cleaning materials Aug 29 Dog licence for guard dog Aug 30 Paid rent 28 549 2,820 27 40 16 39 21 15 390 You are required to: (a) write up and balance the cash book; cash book, balancing down at the end of the month. (b) write Analysis columns to be for: motor expenses; postage and stationery; general expenses; ledger accounts. The petty cash reimbursement takes place on 1 September. up the petty
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:19.4XC. Chester keeps a cash book with bank columns and discount columns only, All petty cash paid out
is entered in a petty cash book. All payments above $50 are by cheque, below that figure by cash.
This is the information for August 2007.
2007
Aug 1 Bank balance
Petty cash balance
2,745
Aug 2 Reimbursement to petty cashier by cheque which is cashed,
29
restoring cash float
271
Aug 3 Petrol bought
Aug 5 Bank charges
Aug 6 Cheques received duly banked:
19
77
T. Grant (after cash discount $27)
C. Riley (after cash discount $20)
513
380
Aug 9 Postage
11 Sny
Motor repairs
48
247
Aug 13 Motor spares
33
Aug 13 Paid the following:
F. Gordon (after cash discount $30)
P Clarke (after cash discount $16)
1,170
624
Aug 15 Envelopes bought
Aug 18 Drew cheque for wages
Aug 21 Received cheque from J. Franks to settle a debt of $2,947
Aug 22 Petrol bought
Aug 24 Postage
Aug 26 Copying paper bought
Aug 27 Paid V. Thomas to settle his account
Aug 28 Cleaning materials
Aug 29 Dog licence for guard dog
Aug 30 Paid rent
28
549
2,820
27
40
16
39
21
15
390
You are required to:
(a) write up and balance the cash book;
(b) write up the petty cash book, balancing down at the end of the month.
Analysis columns to be for: motor expenses; postage and stationery; general expenses; ledger
accounts. The petty cash reimbursement takes place on 1 September.
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